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Residential Investment
Balfour House, Winchester, SO23 0LB
Guide price £3.25m
JJ
16 high quality fully
equipped apartments
(34 bed spaces)
Savills Southampton
2 Charlotte Place
Southampton
SO14 0TB
+44 (0) 23 8071 3900
savills.co.uk
JJ
Fully let to the University of
Winchester from September
2015 to July 2020
JJ
Net income £233,111 per
annum plus income of
£7,880 per annum from
car parking
Location
The Property is located approximately 1.6 km (1
mile) to the north east of Winchester City Centre,
approximately 22.2 km (13.8 miles) to the north
east of Southampton and 32.0 km (19.9 miles) to
the south west of Basingstoke. The city benefits
from good road communications, lying adjacent
to junctions 9, 10 and 11 of the M3 and the
A34 and A31 leading to Newbury and Guildford
respectively. Winchester railway station provides a
direct mainline service to London Waterloo with a
quickest journey time of approximately 1 hour.
Description
The premises comprises two detached two
storey buildings previously used as offices, they
were converted to residential in the Summer
of 2014 and the first occupations began in
September 2014. The building at the front of the
site (c.4,774 sq ft) accommodates 12 apartments
and 26 bedrooms whilst the building at the
back of the site (c.1,563 sq ft) accommodates 4
apartments and 8 bedrooms. The site extends to
approximately 0.12 Ha (0.3 acres) and benefits
from 16 car parking spaces.
Tenure
The site is to be sold freehold subject to the
occupational lease.
Tenancy
The property is fully let in to the University of
Winchester (from various dates between 5th July
2015 and 12th September 2015) The above
costs, including management fees equate to
£69,139 per annum, reflecting a net rent of
£233,111 (based on a 52 week tenancy).
The rent reduces to £290,160 pa if the apartments
are occupied for 48 weeks. The University is
currently in occupation on a number of short term
leases (terminating on various dates). Included in
the rent is the following:
Accommodation Schedule
Unit
Block
Storey
Beds
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Rear
Rear
Rear
Rear
Front
Front
Front
Front
Front
Front
Front
Front
Front
Front
Front
Front
Gnd
Gnd
1st
1st
Gnd
Gnd
Gnd
Gnd
Gnd
Gnd
1st
1st
1st
1st
1st
1st
2
2
2
2
1
3
2
2
2
3
2
2
3
2
2
2
34
Rent
(48 wks)
£16,800
£16,800
£16,800
£16,800
£12,960
£25,200
£16,800
£16,800
£16,800
£25,200
£16,800
£16,800
£25,200
£16,800
£16,800
£16,800
£290,160
Rent
(52 wks)
£17,500
£17,500
£17,500
£17,500
£13,500
£26,250
£17,500
£17,500
£17,500
£26,250
£17,500
£17,500
£26,250
£17,500
£17,500
£17,500
£302,250
Comments
Yr 1 rent £14,700
Yr 1 rent £14,000
Yr 1 rent £16,975/£16,800
Yr 1 rent £11,745
JJ
All water and sewerage charges
Method of Sale
Price
JJ
Broadband internet connection
Gas charges
The site is offered for sale by private treaty on an
unconditional basis.
Guide price £3,250,000.
JJ
JJ
Electricity charges
JJ
Weekly cleaning service
JJ
Weekly change of bed linen and towels
The above costs, including management fees
equate to £69,139 per annum, reflecting a net rent
of £233,111.
In addition to the above, there are 16 no. car
parking spaces which are mostly let to the
Basepoint Business Centre. The total income
received for the car parking is £7,880 pa.
The spaces are secured on a one year licence,
10 of which are until April 2016, three of which
are until July 2015, one is let to a tenant until
March 2016 and two are vacant.
The Buyer will be responsible for the payment of
Council Tax.
Offers should be submitted via email or post to
Richard Wickins (rwickins@savills.com), Savills,
2 Charlotte Place, Southampton, SO14 0TB.
Offers must clearly be marked ‘Balfour House,
Winchester’ and be for a fix sum unrelated to any
other offer.
Please note that the vendor reserves the right not
to accept the highest or any offer. All offers must
contain the following information:
JJ
Company Name
JJ
Offer price to be a fixed sum unrelated to
any other offer.
JJ
Timescale of exchange and completion
JJ
Proof of funding
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Solicitors details
Viewing
Viewings are strictly by appointment.
Please contact Julian Bessey at Martin and Co.
on 07919 413097 or Richard Wickins
on 023 8071 3925 to arrange an appointment.
Contacts
For further information and viewings, please contact:
Richard Wickins
rwickins@savills.com
+44 (0) 23 8071 3925
Julian Bessey
julian.bessey@martinco.com
+44 (0)7919 413097
Colin Wilkins
cwilkins@savills.com
+44 (0) 23 8071 3929
The individual leases are available on request.
Important Notice
Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their
own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars.
These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily
comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have
not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Designed and Produced by Savills Marketing: 020 7499 8644 | April 2015